Mumbai: India’s consumer market presents a long-term structural opportunity driven by a young population, a growing middle class, rapid urbanization, increasing disposable incomes, and rising aspirations, said Tata Consumer Products chairman N Chandrasekaran at the company’s annual shareholder meet. He added that the company is well-positioned to capitalise on this significant opportunity and unlock value creation opportunities.
Tata Consumer, which started as a tea player, is now among the top 10 FMCG companies in India, with a turnover of Rs 15,200 crore. Its market cap crossed Rs 1 lakh crore in FY 24, a new milestone for it.
Chandrasekaran said the India economy has been growing “very strongly” and the current momentum continues to be high. In FY 24, India’s growth rate was 8.2%.
He said the growing middle class will create opportunities “India’s middle class is expected to grow from about 30% of the population to 50% by 2030, meaning an additional 300 million people will enter the middle/consuming class, (which is) a huge opportunity.” Tata Consumer recently acquired Capital Foods and Organic India to grow its portfolio.